Disney plans to buy back up to $8 billion in stock in 2014

A scene from "Planes" from Disney, which plans to significantly increase its stock buyback program.

A scene from "Planes" from Disney, which plans to significantly increase its stock buyback program. (Disney / Disney Enterprises)

Ryan Faughnder

The Walt Disney Co. will repurchase up to $8 billion in stock next year, giving a major boost to investor returns, the company's chief financial officer Jay Rasulo said Thursday.

In remarks at the Bank of America Merrill Lynch 2013 Media, Communications & Entertainment Conference in Beverly Hills, Rasulo cited confidence in the return on Disney's investments, the overall company, and its stock price, which has increased 25% to $65.49 a share so far this year.

"We really see the opportunity, given where the share price is, given where the capital markets are, to target at least $6 [billion] and possibly up to $8 billion in buyback," he said.